The market is in the full grip of bulls but any sensible investor would welcome a correction at this stage of the market.

Some stocks look interesting even at this stage especially owing to the increase in the promoters holding.

For example the stock JB chemicals went down sharply after Kotak Mahindra Asset Management Company disposed of six lakh shares at Rs 280 per share in a bulk deal on the NSE on 25 October 2017. However the promoters increase in the stacks in the recent quarter helped it to recoup the losses and it retreated back to Rs 300+ on Friday.

Similarly the large cap stock Lupin went down sharply by more than 30% owing to the bad sentiments in the pharma sectors. However the promoters acted rightly to increase their stakes in the last quarters from 46.70 % to 46.80% which helped to prop up the stock price from 997 to 1050 in the last week.

Beaten down stocks with increasing promoters stake would help the stock prices but currently the market is in overheated condition. Investors will be better off to stay cool and buy when the market tanks a bit

May be in the coming months the market may cool off as Most economists foresee the next rate hike — the third this year — coming in December.

Let us check the market this week and see if any meaningful correction takes place now.